Insurance bill allowed reinsurance companies to operate in India. With the entry of global reinsurance companies, India’s GIFT city founded in Gujarat is set to become reinsurance hub says, T.S. Vijayan, Chairman of IRDAI. He also believes that next wave of growth is coming in the Insurance industry. Insurance schemes pushed by government will bring positive outcomes for the insurance industry. He says the protection gap has to be reduced. He further adds gone are the days where there’s no customer interaction after selling policy, he asserts that creating customer awareness and customer engagement is important.
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